Regulatory Alerts2026-06-17 | 2026-12163Added
The Trade-Through Rule and Locked and Crossed Markets Provisions of Regulation NMS
The Securities and Exchange Commission proposes rescinding Rule 611 and Rule 610(e) of Regulation NMS, which currently prohibit trade-throughs and locked or crossed quotations for NMS stocks. The Commission argues that modern market automation and interconnectivity have rendered these rules unnecessary, as they now contribute to excessive complexity, compliance costs, and market fragmentation. Eliminating these provisions aims to reduce regulatory burdens and allow market forces to drive competition and innovation in equity market structure.
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